The number of completed property deals in Dubai has tumbled by more than two-thirds, according to JLL.

In its Dubai Q2 Market Report, the firm’s Mena head of research Craig Plumb said Dubai Land Department figures show a 69 per cent drop in residential transactions during the first half of the year, with 7,400 deals c...
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We are purchasing a Dubai property which is tenanted until next month. So far no vacating letter has been sent to the tenant. So upon completing the transfer, the seller has issued a vacating notice via the courts – this means the tenant will have to vacate after 12 months. The tenant is paying Dh115,000 – well below the marke...
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I have a query on the 12-month notary notice that needs to be issued for the tenant to vacate. I issued such a notice and Dubai courts used a courier company to deliver the notice to the tenant. They have sent me the report and it indicates that since the tenant was unavailable, the notice was left at the door. Is there anything more that...
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Damac Properties says its international arm, in which it holds a 20 per cent stake, is planning “more than one” project in London, where the Dubai-listed firm yesterday launched its first development outside the Middle East.

Hussain Sajwani, Damac’s founder and chairman, said he was meeting planning offici...
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Dubai’s property market is likely to bounce back from a slowdown in the first half of this year, thanks to the increasing size of the market and the emirate’s significance as a business and leisure hub.

The real estate website Bayut said in its 2015 first half UAE market report that &...
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I am the landlord of an Abu Dhabi villa and the annual contract with my tenant – who has lived there for the past three years – has expired. I had given them notice for renewal, but the tenant sent me an email saying he wanted to leave. Then I found out that only the wife ...
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Dubai: Rents have been falling recently, or so a number of real estate agencies say, yet your landlord has just told you that he’s going to increase your rent upon renewal next month. Of course, moving out is the nex...
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Abu Dhabi: Rental rates in Abu Dhabi are on the rise following a slow start to the year, with a six per cent rise in the last quarter compared to the first, according to the latest Asteco market report that was issued on Sunday.

The majority of prime, high and mid-quality developments saw price increases between four and si...
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Abu Dhabi: The Ministry of Finance (MoF) has begun to form a group of specialised federal property management committees across each federal entity in a bid to monitor the performance of property rental committees and present its reports to the Cabinet.

The move comes after the Cabinet’s decision to implement the Po...
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Dubai’s property market is rarely out of the news. Be it booming or in the middle of a bust. In the last six months, the market has been fairly stable with prices remaining steady throughout the emirate.

What has picked up momentum in the industry, however, is a focus on affordability. Several new launches, billed as ...
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Apartment rents in Dubai are expected to see a steady decline of 3 to 4 per cent this year while villa rents are set to fall marginally by 1 to 2 per cent, according to a new report by real estate firm Core Savillis.

Dubai’s apartment rents fell 0.3 per cent per month during the last six months but villa rents remai...
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Proposals for a new rental index in Abu Dhabi to replace the cap that was abolished in November 2013 should help to relieve spiralling housing costs, which nudged inflation in the city to a six-year high of 5.3 per cent in April.

The index, which is being drawn up by the Department of Municipal Affairs (DMA), could be intro...
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Dubai: Activity in the residential real estate market slowed in the three months to June, with both prices and volumes lower than in the previous survey according to the latest Emirates NBD Dubai Real Estate Tracker survey.

The Real Estate Tracker comprises two surveys: one for estate agents and one for consumers, with ques...
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After reading a recent column of yours advising a landlord, I was intrigued by one sentence: “Please remember to serve the eviction notice upon expiry of the tenancy agreement as per law 33 of 2008, article 25, section 2”. In my case, the landlord asked for an increase of 25 per cent last year, which I refused by referencing t...
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Emaar Misr for Development, which started trading on Sunday, offered to buy back 90 million shares through a fund after the stock plummeted on its second trading day, according to the state-run Mena news agency.

Mena reported the planned purchase without identifying the fund or the stock exchange official it cited. The shar...
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Investors who bought into Dubai’s residential property market after the property crash and who are looking for an exit should consider doing so now, according to Core Savills’ chief executive, David Godchaux.

Its latest report states that average prices for apartments and villas reached their highest point in th...
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Dubai: Whether it’s a first-time buyer or a seasoned investor, the astute property buyer will look for areas that have it all — an attractive built environment, solid infrastructure, reliable transport links and a likely return on investment.

Some investors try to identify up and coming locations where they can ...
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Dubai’s property market is unlikely to face another 2008-style plunge, according to the London Business School.

The institution carried out a survey of more than 200 business executives to gauge their views on the market, which is predicted to face price drops of up to 20 per cent in some areas, according to the ratin...
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Dubai: Almost half of the respondents in the London Business School poll reckoned they would invest in the Dubai property market, citing the emirate’s economic outlook and the available rental yields as reasons.

“Roughly half of the executives surveyed recognise the risk that the supply of new properties will in...
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Dubai: With Dubai’s property prices in cool-off mode, prospective buyers are in no hurry to seal the deal in the secondary market. The average time taken these days now average anywhere up to five to six months from the time an investor decides to buy to actually signing the papers for the purchase.

Dubai Sports City is in talks with financiers about funding for the site of a proposed 60,000-seat football stadium.

The developer’s chief financial officer, Vijay Sajjanhar, said that, although its focus is the development of a canal zone running through the centre of the site, the main outdoor stadium was “on ...
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Dubai: Some UAE and Gulf travellers are drawing up plans for short visits to Greece this summer, but not necessarily to catch the scenery or the sun. Instead, they will be on the lookout to pick up choice real estate assets on the cheap.

Valuations on Greek realty are down to “10 cents to the dollar” from their ...
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Dubai: “Negative premium” is starting to show up in Dubai’s property market, with fairly steep discounts — 5-8 per cent off on the original price — starting to be offered in the secondary market on recent off-plan launch units.

This is most apparent for high-end properties, located at both esta...
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Dubai: Emaar chairman, Mohammad Al Abbar, has confirmed plans for a not-for-profit institute for the real estate sector in the UAE. The mandate is to develop a “talented pool” of senior managers and professionals for the sector. It will be wholly funded by Al Abbar, Emaar said in statement on Thursday.

Last year I received an eviction notice and the landlord mentioned that she wants to move in herself. Since then I have moved into a new house for Dh70,000, but now my previous landlord has informed me that she can renew the contract for Dh65,000. I believe that under last year’s market conditions she thought she could rent the hous...
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Dubai: Be it plots, villas or upscale apartments, more Sharjah developers are opening their doors to buyers of all nationalities, but with UAE resident visas. The widening list of options that Sharjah now offers — and even extending to offices and commercial real estate assets — has helped “maintain” transactional ...
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